Grover Norquist: Chained CPI Violates Taxpayer Protection Pledge
WASHINGTON -- Members of Congress who have pledged never to raise taxes will be breaking their promise if they support changing how the government measures inflation for Social Security and tax purposes.
President Barack Obama unveiled a budget proposal on Wednesday morning that would switch tax brackets and Social Security cost-of-living adjustments, which are indexed for inflation, from the current version of the Consumer Price Index to a "chained CPI," which says inflation rises more slowly. The change would reduce future benefit increases and push more taxpayers into higher brackets, a phenomenon known as "bracket creep."
Americans for Tax Reform, the advocacy group that asks lawmakers to sign a formal "Taxpayer Protection Pledge," said Tuesday that chained CPI violates the pledge.
Anti-tax crusader Grover Norquist, leader of the organization, criticized the policy via Twitter on Wednesday. "Chained CPI is a very large tax hike over time," Norquist wrote. "Hence Democrat interest in same."
http://www.huffingtonpost.com/2013/04/10/grover-norquist-chained-cpi_n_3052646.html
There is more to chained CPI than social security as inflation adjustments run through many programs.
